Murphy Oil — May 6, 2026 release

1 Highlights for the first quarter include: • Produced 174,200 BOEPD, exceeding the high end of quarterly guidance due to outperformance in the Eagle Ford Shale and strong uptime in the Gulf of America • Spud Bubale-1X, the third exploration well in C ô te d’Ivoire • Progressed the Hai Su Vang-3X appraisal well in Vietnam, with results from the full appraisal program anticipated in the third quarter of 2026 • Spud the Chinook #8 well in the Gulf of America, a key development well expected to come online in the second half of this year with a gross initial production rate of 15 MBOEPD • Brought online 15 wells in the Eagle Ford Shale, with the wells driving a 17 percent improvement in 60-day cumulative oil production compared to wells drilled in 2025 Subsequent to the first quarter: • Approved development of the Banjo and Cello fields, targeting first production in the fourth quarter of 2027 • In late March, Murphy submitted an offer for four exploration blocks in offshore Cameroon which was accepted subsequent to quarter end; final terms are pending further discussions with the Republic of Cameroon “During these uncertain times, our strategy is to stay anchored to what we control—disciplined capital allocation, safe and reliable operations, and our long‑cycle projects. In the first quarter, this focus translated into strong execution across our portfolio with meaningful progress at Lac Da Vang in Vietnam, advancement of the high-impact Chinook #8 well in the Gulf of America, and sustained outperformance from our US and Canada onshore programs,” stated Eric M. Hambly, President and Chief Executive Officer. SHAREHOLDER RETURNS During the first quarter of 2026, we paid $50 million in quarterly dividends. While the Company elected not to repurchase shares this qua